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A $100 Billion Idea – Tapping Migrants for Financing Development

Dilip Ratha's picture

In observance of the International Migrants Day, Dec 18

2015 is shaping up to be the year of Financing for Development. Besides official aid and private capital flows – the former expected to run flat, and the latter to remain volatile/cyclical, a few under-exploited financing options are directly connected to international migration.

As much as $100 billion, actually more, could be raised annually via:

The power of words: Would you want to be an expat or an immigrant?

Kirsten Schuettler's picture
In observance of the International Migrants Day, Dec 18

Today is International Migrants Day. Who comes to your mind when you read this? Would you think of  a football player playing for a club in another country? Or of a German working at the European Commission in Brussels?  Even though they live outside their country of birth and are thus migrants per definition, we do not think of them as migrants. Just like a British pensioner living in Spain or a Swiss working for a company in the US, these people are often rather referred to as ‘expats.’ 

Lower Migration’s Costs and Raise Migration’s Benefits

Manolo Abella's picture
In observance of the International Migrants Day, Dec 18

Every year up to 10 million workers leave one country to work in another. Most are legal guest workers, and many arrive in debt to recruiters and other agents who place them in foreign jobs. If 10 million workers pay $1,000 in fees, the business of international labor migration is worth a $10 billion a year, including a large share that flows to agents in destination countries. Cutting migration costs in half would save migrants $5 billion a year.

Diasporas, development and diplomacy: How to engage refugees in assistance back home

Jacob Townsend's picture
Migrants are increasingly recognised as transnational actors who can contribute to the development of their countries of origin without actually returning to them. In recent decades, host countries and countries of origin have begun to look beyond the financial remittances of migrants to social remittances.  Many aid and peacebuilding programs are seeking to leverage migrants’ access to and knowledge of their countries of origin.